Friday, Jan 19, 2018

Falling Appetite For Over-Extension

Guardian: UK's largest estate agent Countrywide issues profit warning

With relatively sticky prices, the first stage of a housing downturn – that of falling activity in the context of a buyer/seller standoff – is in train.”

Posted by crash bandicoot @ 09:20 PM (4352 views) Add Comment

3 Comments

1. britishblue said...

I can't believe that the 'official prices' are still holding up. I deal with people who have exchanged on their houses every day. Towardsthe end of last year 10% reductions were common, but since the new year i have met several people who had reduced their property by 20% in order to get a buyer. Either the indices are being fixed or I live in an odd area of London or some substantially bad news is going to filter through in the next few months. I must add, the properties that are selling are the good ones, not ropey ones that would go at a discount.

Saturday, January 20, 2018 06:42PM Report Comment
 

2. khards said...

Perhaps official prices are holding due to volume in the areas where prices are falling crashing whilst other areas are holding up?

Monday, January 22, 2018 09:09AM Report Comment
 

3. nickb said...

@1 I get the Acadata monthly report, which works with land registry data. Though London is down as a whole it is not a uniform picture (e.g. Southwark down over 20%, Merton up 10%). Transactions in London are down 35% from pre-Brexit vote levels (2015/2017; December). Greater London as a whole prices are down 4.1% year on year.

Tuesday, January 23, 2018 11:34AM Report Comment
 

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